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Retirement tax questions
If TurboTax asked anything about the General Rule when you were entering a Form 1099-R that reports a rollover from a 401(k) or 457(b) to a Roth IRA, you entered something incorrectly. The general rule only applies to distribution from nonqualified retirement plans that are not eligible for rollover to a Roth IRA, not to distributions from 401(k) and 457(b) plans. Also, a series of substantially equal periodic payments (in the form of an annuity) from a 401(k) or 457(b) are not eligible for rollover, so the Simplified Method doesn't apply either.
Delete the associated Forms 1099-R and reenter them.
March 27, 2023
5:24 AM